THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Thursday, July 11, 1996 TAG: 9607090115
SECTION: NORFOLK COMPASS PAGE: 04 EDITION: FINAL
SOURCE: BY JOAN C. STANUS, STAFF WRITER
LENGTH: 40 lines
Baby boomers, take heed.
In Hampton Roads, the average cost annually to stay at a nursing home - even at the lowest level of care - is already about $36,000, according to a report issued by the U.S. General Accounting Office.
Those costs are expected to triple in the next 20 years.
Still more frightening is the fact that most people harbor gross misconceptions about how private health insurance, Medicare and Medicaid pay for long-term care. In fact, industry watchers contend that most of us have little or no protection when it comes to paying for extended care when needed.
And the chances of it happening are staggering. Some believe that half the U.S. population over 65 will need long-term care at some point in their lives.
Add to that the fact that the 65-and-older age group is the fastest-growing segment of the American population and it doesn't take a brain surgeon to figure out the future for baby boomers is daunting.
These issues and others surrounding long-term care will be the focus of a free public forum titled ``The Facts on a Family Crisis'' Tuesday at the Chrysler Museum. The two-hour program begins at 10 a.m.
The educational workshop is sponsored by Crestar Bank; Williams, Kelly & Greer; Kelly Assisted Living and the Frieden Agency, a Virginia Beach-based independent agency representing about 50 insurance companies.
``The purpose of the forum is to give people a non-threatening atmosphere where they'll have access to a panel of people who are experts in their fields and provide them with the real facts about long-term care and illness,'' noted Cathy Bender, of the Frieden Agency.
``Most people don't know much about it or have the whole picture,'' she added. ``I've found repeatedly that people have a real lack of knowledge about how high these costs are and how great their risks are. This will help educate them.'' MEMO: Space is limited, so reservations are required. Call Bender at
340-9777, extension 363, for a space. by CNB